General Obligation Bond Questions - Quality of Life Facilities

Summary

$1,200,000 for Quality of Life Facilities What is proposed is a bond question in the amount of $1,200,000 to be used for designing, constructing, renovating, acquiring, rehabilitating, improving, and equipping public quality of life facilities. Approximately $1,121,400 is estimated to be available for projects after accounting for the required 1% for the Arts, bond issuance costs, and contingency costs. Additional resources are needed for parks and recreation and library services in order to address identified needs and maintain the quality of highly desirable community services. The City's adopted Infrastructure and Capital Improvement Plan for 2026-2030 has approximately $69,800,000 identified for parks and recreation projects with approximately $2,000,000 (3 percent) of this cost projected to come from General Obligation Bonds (subject to ballot placement and voter approval), and approximately $44,100,000 (64 percent) in funding to be determined. The City's libraries rely on voter-approved Sandoval County Library Bond proceeds for the vast majority of its available budget for public books, movies, periodicals, digital services, facility improvements, and technology. Despite a growing population and tax base, inflation, additional locations, and the need to expand services due to technological changes, the County's historic allocation of funding to Rio Rancho has been inadequate and not keeping up, and some recent additional restrictions on fund-use have been imposed by the County.

Measure Details